ORION MINERALS LIMITED - Share Issue Notice Under Section 708a(5)(e)

Share Issue – Notice Under Section 708a(5)(e)

Orion Minerals Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 098 939 274
ASX share code: ORN
JSE share code: ORN
ISIN: AU000000ORN1
(“Orion” or “the Company”)

SHARE ISSUE – NOTICE UNDER SECTION 708A(5)(e)

Orion Minerals Limited (ASX/JSE: ORN) (Orion or the Company) announced on 16 April 2019 a pivotal
$8M capital raising underpinned by a group of high-profile South African investors as part of a
proposed restructure of the Company’s Black Economic Empowerment equity participation at
project level, achieving accelerated compliance with the ownership aspects of South African Mining
Charter 3.

The $8.0M capital raising comprises the issue of 200.9M fully paid ordinary share (Shares) at an issue
price of $0.04 per Share, together with one free attaching option for every two Shares issued (100.47M
options at an exercise price of $0.05 and an expiry date of 31 October 2019) (Options), to be
conducted via a placement to sophisticated and professional investors (Placement). The Options will
not be quoted on the ASX or the JSE. The Placement was made up of $4.69M in Tranche 1 issued in
April 2019 and, subject to shareholder approval, which was obtained at a general meeting on 7 June
2019, an additional $3.34M in Tranche 2.

Orion has issued 30,000,000 Shares in the Company at $0.04 per Share and 15,000,000 Options (New
Securities), to raise $1.20M, resulting from a receipt of funds from investors for Tranche 2 commitments.
The balance of Tranche 2 Shares and Options (being $2.14M), which includes the Shares and Options
associated with the BEE restructure as announced on 16 April 2019, are expected to be issued in the
near term.

In accordance with section 708A(5)(e) of the Corporations Act 2001 (Act), the Company advises as
follows:

1. this notice is being given under paragraph 708A(5)(e) of the Act;

2. the Company issued the New Securities without disclosure to investors under Part 6D.2 of
   the Act;

3. as at the date of this notice, the Company has complied with the provisions of Chapter
   2M of the Act as they apply to the Company;

4. as at the date of this notice, the Company has complied with section 674 of the Act; and

5. all information of the kind that would be required to be disclosed to the market for the
   purposes of section 708A(6)(e) of the Act has been disclosed to ASX Limited.

Denis Waddell
Chairman

22 July 2019

ENQUIRIES

Investors                              Media                                                         JSE Sponsor
Errol Smart – Managing Director        Nicholas Read                      Barnaby Hayward            Rick Irving
          & CEO
Denis Waddell – Chairman               Read Corporate, Australia          Tavistock, UK              Merchantec Capital
T: +61 (0) 3 8080 7170                 T: +61 (0) 419 929 046             T: +44 (0) 787 955 1355    T: +27 (0) 11 325 6363
E: info@orionminerals.com.au           E: nicholas@readcorporate.com.au   E: orion@tavistock.co.uk   E: rick@merchantec.co.za

Suite 617, 530 Little Collins Street
Melbourne, VIC, 3000

Date: 22/07/2019 09:14:00
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